Venezuela Puts Stop on Gold Exploration

The Government of Venezuela has shut the door on new gold projects and threatened other mining and logging concessions in a move to tighten control over natural resources.

Environment Minister Yuviri Ortega says Venezuela will not give permits for any open-pit mines and will not allow companies to look for gold in its vast Imataca Forest Reserve, writes Reuters.

Ortega says "Venezuela will deny environmental permits for the open-pit mine exploitation,” adding that neither public nor private companies will be able to explore the country.

The government will also be revising all its mining and timber concessions due to ecological damage.

By staff writer